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Frequently Asked Questions


How is TripsWare different from other expense reporting systems?
My firm only has 7 investment professionals. How would TripsWare be cost-effective for us?
Some systems we've looked at seem complicated. Is TripsWare easy to use?
Can employees use TripsWare outside the office?
Can we upload credit card data to TripsWare?
Does TripsWare integrate with GL Accounting Systems?
How do we edit and update our company information in TripsWare?
We need to book to accounts other than just expense categories. Can TripsWare automate more complicated accounting procedures?
Would we have to change our internal accounting procedures in order to implement TripsWare?
We'd like to start tracking and invoicing for our portfolio company expenses. How can TripsWare help us with this?
How long does it take to roll out TripsWare?
How much does TripsWare Cost?
Do we have to lock in to a long-term contract?
Do you offer a Free Trial?





Why is TripsWare different from other expense reporting systems?

We have domain expertise in the private equity industry. We know your business model and the types of challenges you face at every step of your expense reporting cycle. At the same time, we recognize that every investment firm has its own unique way of operating. With our in-depth experience and flexible solution, we have the ability to meet your firm's specific needs, however nuanced or complex.


My firm only has 7 investment professionals. How would TripsWare be cost-effective for us?

Smaller firms have an even greater need to leverage back office technology. The time saved by submitting reports electronically, importing the expense items to your GL, and generating invoicing automatically more than offsets the cost of our service.

Some systems we've looked at seem complicated. Is TripsWare easy to use?

Absolutely! We have optimized the interface and workflow to bring all the salient features and functions applicable for financial firms to the forefront. That means that users don't have to click through or drill down to screens that may not even be relevant. We even have an Expense Reporting Wizard to guide users effortlessly through the report submission process.


Can employees use TripsWare outside the office?

TripsWare is an online solution that is secure, reliable, and accessible in real time from anywhere. All you need is an Internet connection and a Browser. Perfect for supporting remote users (or designated assistants) who submit reports from satellite or home offices while enabling the main office to have real time access to these reports.


Can we upload credit card data to TripsWare?

TripsWare integrates seamlessly and securely with credit card carriers, eliminating errors and the need to retype expenses. Simply import your electronic credit card statement directly into TripsWare. You'll not only save time, but gain access to additional information that may not appear on a hard copy statement such as Dates traveled, Airline & Hotel details, Reservation #'s etc.

Does TripsWare integrate with GL Accounting Systems?

Yes, we integrate with most accounting systems including QuickBooks, Great Plains, and Peachtree.


How do we edit and update our company information in TripsWare?

You maintain your records and accounting information in TripsWare. Simply Add or Edit any list items yourself in real time including deal names, portfolio companies, categories, GL Codes and Employees. This ensures expense reports are submitted with the correct information for immediate integration to your accounting system.

We need to book to accounts other than just expense categories. Can TripsWare automate more complicated accounting procedures?

That's our specialty. We work with you to document your requirements and design a customized integration procedure to import expense data according to your accounting rules. We will also make recommendations to optimize your GL set up and improve your ability to track expenses.


Would we have to change our internal accounting procedures in order to implement TripsWare?

No, we can seamlessly integrate TripsWare to existing processes and policies. There's no need to change general ledger codes, names, procedures etc. Of course, we are willing and able to share best business practices with you if you would like to update any policies or need advice on migrating from a legacy system.

We'd like to start tracking and invoicing for our portfolio company expenses. How can TripsWare help us with this?

Expenses incurred while performing due diligence and managing portfolio companies can be substantial. We capture your data from all sources in one centralized system, giving you real time insight into who is spending what and where. Find out at a glance what your potential receivables are and the hard dollar costs of fundraising, sourcing deals and managing projects. Then use our built-in invoicing module to generate customized invoices in seconds, expediting the recovery of expenses from portfolio companies, partnerships or closing deal fees.


How long does it take to roll out TripsWare?

TripsWare can be rolled out quickly and requires no downtime to implement. Once we receive your company profile information, we can have you set up and trained in as little as one week. No client side hardware, software, backups, maintenance, or IT staff necessary.

How much does TripsWare Cost?

TripsWare is available as a monthly subscription service. Fees are based on number of users and features provided. Please contact us for more information.


Do we have to lock in to a long-term contract?

No, simply sign up and pay as you go. You can cancel at any time.


Do you offer a Free Trial?

We are happy to offer a Free Trial. Simply click on Request Free Trial to get started.



 
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